Pinnacle West quarterly profit rises on robust electricity demand

Core Insights - Pinnacle West Capital reported an increase in third-quarter profit driven by higher power demand due to extreme summer heat, reduced operations and maintenance costs, and an increase in customer base [1] Group 1 - The rise in profit is attributed to increased power demand resulting from scorching summer temperatures [1] - Lower operations and maintenance costs contributed positively to the profit margins [1] - The company experienced growth in its customer base, which further supported the profit increase [1]